Antonov, Geely sign gearbox production license
Antonov has signed a production license agreement with Zhejiang Geely Automobile Gearbox, the transmission manufacturing subsidiary of Chinese auto maker Geely Automotive.
Under the license, Geely will have the non-exclusive worldwide rights to manufacture and sell transmissions covered by the Antonov 6-speed automatic patents and will also receive design support from Antonov.
Antonov said it will receive license fees totaling E900,000 payable over the next nine months and then a production royalty on each transmission produced.
John Moore, CEO of Antonov, said: "I am very pleased to be able to confirm this license agreement. Geely has a strong track record in developing transmissions and their experience and established infrastructure will allow us to bring our technology to production rapidly. China is a key market for our technology and Geely provides an excellent customer reference site, which will underpin our commercialization strategy in the region."
Geely is one of China's leading automotive companies and produces around 200,000 cars per year. Both companies will be working together to incorporate the TX6 into a number of models with production commencing in 2008.
An Conghui, vice president of Geely, added: "Geely is delighted to have secured the Antonov TX6 license which in turn has strengthened our transmission product range and enabled us to bring to market a vehicle which will incorporate Antonov technology delivering a compact and cost effective solution
Under the license, Geely will have the non-exclusive worldwide rights to manufacture and sell transmissions covered by the Antonov 6-speed automatic patents and will also receive design support from Antonov.
Antonov said it will receive license fees totaling E900,000 payable over the next nine months and then a production royalty on each transmission produced.
John Moore, CEO of Antonov, said: "I am very pleased to be able to confirm this license agreement. Geely has a strong track record in developing transmissions and their experience and established infrastructure will allow us to bring our technology to production rapidly. China is a key market for our technology and Geely provides an excellent customer reference site, which will underpin our commercialization strategy in the region."
Geely is one of China's leading automotive companies and produces around 200,000 cars per year. Both companies will be working together to incorporate the TX6 into a number of models with production commencing in 2008.
An Conghui, vice president of Geely, added: "Geely is delighted to have secured the Antonov TX6 license which in turn has strengthened our transmission product range and enabled us to bring to market a vehicle which will incorporate Antonov technology delivering a compact and cost effective solution
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